Barclays plans 10.25%-12.75% yield optimization notes on GE via UBS

By Jennifer Chiou

New York, Nov. 5 - Barclays Bank plc plans to price yield optimization notes with contingent protection due May 19, 2010 linked to the common stock of General Electric Co., according to an FWP filing with the Securities and Exchange Commission.

UBS Financial Services Inc. and Barclays Capital Inc. are the underwriters.

The notes will pay interest quarterly at the rate of 10.25% to 12.75% per year, with the exact coupon to be set at pricing.

Each note will have a face amount that is equal to the closing price of General Electric stock on the pricing date.

If the final share price of General Electric stock is less than 75% of the initial share price, the payout at maturity will be one General Electric share per note. Otherwise, the payout will be par.

The notes are expected to price on Nov. 13 and settle on Nov. 18.

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